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These links are organised by chapter and section of the text, so that you can click and go directly to the materials discussed in the book. Not all cases are freely available on the internet, and you may need to use your university library to access some cases.

Please note that clicking on these links will take you to a third party site. Most of the links come from the following sources, and you will be taken to these pages after clicking on the links:

Australasian Legal Information Institute (AustLII)
www.austlii.edu.au

Australian Securities Exchange (ASX)
www.asx.com.au

British and Irish Legal Information Institute (BAILII)
www.bailii.org

World Legal Information Institute (WorldLII)
www.worldlii.org




Chapter 12 – Conflict of Interest

12.1 Introduction

Boardman v Phipps [1967] 2 AC 46


12.2 The fiduciary duty to avoid conflicts

Aberdeen Railway Company v Blaikie Bros (1854) 1 Macq 461
Boardman v Phipps [1967] 2 AC 46


12.3 Application of the ‘no conflicts’ duty in specific contexts

12.3.1 Directors contracting with the company

Corporations Act s 191
Corporations Act s 194
Corporations Act s 195
Aberdeen Railway Company v Blaikie Bros (1854) 1 Macq 461

12.3.2 Directors on the boards of competing companies

Aberdeen Railway Company v Blaikie Bros (1854) 1 Macq 461
London and Mashonaland Exploration Company Ltd v New Mashonaland Exploration Co Ltd [1891] WN 165
On the Street v Cott (1990) 3 ACSR 54; 8 ACLC 1050
Fitzsimmons v R (1997) 23 ACSR 355; 15 ACLC 666

12.3.3 Nominee directors

Corporations Act s 187
Levin v Clark [1962] NSWR 686


12.4 Statutory provisions relating to conflicts of interest

12.4.1 Disclosure of material personal interests

Corporations Act s 53
Corporations Act s 191
Corporations Act s 192
Corporations Act s 193
McGellin v Mount King Mining NL [1998] WASC 96
Camelot Resources Ltd v MacDonald (1994) 14 ACSR 437

12.4.2 Participation in directors’ meetings of public companies by directors with a material personal interest

Corporations Act s 191
Corporations Act s 195
Corporations Act s 196

12.4.3 Related party transactions with public companies or their controlled entities

Corporations Act Ch 2E
Re HIH Insurance Ltd (in prov liq); ASIC v Adler [2002] NSWSC 171

12.4.4 Transactions with persons in a position of influence in listed companies

ASX LR Ch 10

12.4.5 Directors’ remuneration

Corporations Act s 202A
Corporations Act s 202B
Corporations Act s 300
Corporations Act s 300A


12.5 The fiduciary duty not to profit from the fiduciary position

Boardman v Phipps [1967] 2 AC 46
Keech v Sandford (1726) Sel Cas T King 61; 25 ER 223
Warman International Ltd v Dwyer [1995] HCA 18


12.6 Examples of application of the duty

12.6.1 Furs Ltd v Tomkies [1936] HCA 3

12.6.2 Cook v Deeks [1916] AC 554

12.6.3 Regal (Hastings) Ltd v Gulliver [1967] 2 AC 134

12.6.4 Industrial Development Consultants Ltd v Cooley [1972] 1 WLR 443

12.6.5 Canadian Aero Service Ltd v O’Malley [1974] SCR 592


12.7 Can the board allow the director to keep the profit?

12.7.1 Peso Silver Mines Ltd v Cropper [1966] SCR 673

12.7.2 Queensland Mines Ltd v Hudson (1978) 18 ALR 1


12.8 STATUTORY PROVISIONS RELATING TO the duty not to profit from the fiduciary position

Chew v R [1992] HCA 18
R v Byrnes [1995] HCA 1


12.9 Examples of the application of ss 182 and 183

12.9.1 Section 182

Forge v ASIC [2004] NSWCA 448
Re HIH Insurance Ltd (in prov liq); ASIC v Adler [2002] NSWSC 171

12.9.2 Section 183

Re HIH Insurance Ltd (in prov liq); ASIC v Adler [2002] NSWSC 171
Grove v Flavel (1986) 43 SASR 410
ASIC v Vizard [2005] FCA 1037


12.10 Remedies for breach of ss 182 and 183


12.11 Conclusion

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